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Iran Currency

Iran Currency Currency

The currency in Iran, or the money used, is called the Rial (pronounced ‘reeyaal’). The Rial is like the dollar or a pound in that is made up of 100 pieces, in Iran called dinars. However, due to high inflation one riyal is worth so little that no fraction of it is really used on a day to day basis.

The Rial was first introduced as the currency in Iran in 1798 as a coin. Back then it was worth 1250 dinars. Then in 1825 the Rial ceased to be issued. The kran of 1000 dinars was then issued as part of a decimal system. The Rial replaced the Kran at par in 1932, although it was divided into one hundred (new) dinars.

Although the "Toman" is no longer an official unit of Iranian currency, Iranians commonly express amounts of money and prices of goods in "Tomans." For this purpose, one "Toman" equals 10 Rials. Despite this usage, amounts of money and prices of goods are virtually always written in Rials. For example, the sign milk in a store would state the price in Rials, e.g., "500 Rials," even though the clerk, if asked, would say that the milk costs "50 Tomans."

There is no official symbol for the currency but the Iranian standard ISIRI 820 defined a symbol for use on typewriters (mentioning that it is an invention of the standards committee itself) and the two Iranian standards ISIRI 2900 and ISIRI 3342 define a character code to be used for it.

Warning:

Iran CurrencyMajor credit cards (Visa, Master, Amex, etc.), debit cards and traveler’s checks are NOT accepted in Iran. Travelers should bring cash preferably in high denomination Euros, U.S. Dollars, Chinese Yuan, UAE Dirham, etc. and exchange for Rial in local banks and money exchange offices.


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